Investment manager Neuberger Berman has reframed its existing global high yield fund in partnership with UBS Global Wealth Management.

The enhanced UCITS fund will invest in high yield bonds globally, with the aim of engaging systematically with issuers on objectives related to the United Nations Sustainable Development Goals (SDG).

The fund has been renamed Neuberger Berman high yield SDG engagement fund and will be available to UBS clients in Switzerland and other select international markets for six months. After this, the fund will open to all eligible global investors, except in the US.

Although the fund previously promoted environmental and social characteristics, it was not managed with sustainability objectives. However, the reframing of the fund to engage with the SDG means it will now be managed with these objectives.

The funds management team includes: Chris Kocinski, managing director and senior portfolio manager who has been at the firm for over 16 years; Joseph Lind, who has worked at the firm for four years; Jennifer Gorgoll, who has been at the firm almost 10 years; and Simon Matthews, who has been at the firm for three years.

Jose Cosio, head of global intermediary at Neuberger Berman, said: “We thank UBS for partnering with us to launch this innovative fund. Neuberger Berman is well-positioned to thrive in this space – with advice and oversight from our established ESG Investing team, engagement activities are led by the investment team who has superior access to senior company executives.”

Mr Lind, senior portfolio manager at Neuberger Berman, added: “For us, delivering yield and solid returns whilst working with and investing in companies aiming to end poverty, improve health and education, reduce inequality, tackle climate change and spur economic growth are not mutually exclusive.”